Vattenfall, a renowned Swedish energy company, has announced a significant investment plan of half a billion euros, aimed at enhancing the charging infrastructure in Germany over the next seven years, up until 2028. The company’s Vice-President E-Mobility, Fabian Hagmann, conveyed this development in a conversation with Tagesspiegel Background. Hagmann, who is responsible for the company’s international electromobility division in the markets of Sweden, the Netherlands, and Germany, stated, “We are investing around 100 million euros annually for the next five years.”
Within the three markets, which are collectively set to receive an investment of 150 million euros per year, Germany is expected to receive two-thirds of these funds. This substantial investment is part of Vattenfall’s commitment to promote e-mobility.
The primary focus of these investments is the expansion of charging stations for so-called location partners. These partners provide the space for the charging stations but do not invest in the infrastructure or its operations. Examples of location partners include supermarkets, parking garages, and hotels, as detailed by Tim Gansczyk, the managing director of Vattenfall’s German e-mobility division. Presently, the group operates approximately 52,000 charging points across the three countries. Despite having the least number of charging points (about 2,000) compared to the Netherlands (30,000) and Sweden (20,000), Germany is a significant market for Vattenfall.
Hagmann further explained, “Based on our experience in Scandinavia and the Netherlands, we are now intensively tackling the German market.” The company not only aims to expand destination charging but also the B2B area in collaboration with partners. Some of Vattenfall’s major clients in this segment include names like Lufthansa, Coca-Cola, and housing companies, with more partnerships in the pipeline.
However, Vattenfall has also decided to maintain a cautious approach when it comes to investing in charging infrastructure on motorways or roadside. The company offers private charging solutions via wallboxes, which come combined with its electricity tariffs, in another segment of its business.
Hagmann expressed that Vattenfall views the establishment and operation of charging infrastructure as a profitable business. He clarified, “But that doesn’t pay off in two or three years, but in ten or 20 years.” Despite the current stagnation in the number of electric cars registrations, Vattenfall is optimistic about the future. The company expects a consistent upward trend in the medium to long term. “The German market is lagging behind internationally, but it is projected to grow by 20 to 30 percent every year in the future,” estimates Hagmann.
